The formula that is sticking out as a potential to me is what I have been doing quietly the last 6 years: buying a cosmetic SFH fixer in B areas with 3% down, live in and renovate, long term rent and repeat.

If it had been my client buying this property, they would have paid a lot less even with the full commission factored in. 

What kind of property did you buy?

I also got great value from a very expensive course on how to properly buy & manage residential real estate.Regardless of cost, the ones that offered low value were the ones where the founder wanted to sell education as their main business. 

I mostly buy and hold. 

I would suggest that you find a partner or mento who has done it before.Many of the investors that I work with in your position find that buying New Construction investment property from a builder is a better option. 

I can say that with Phoenix, a multitude of opportunities can be in store for you if you invest in their market, network, or even just want to get familiar with it.What type of real estate are you into: fix & flips, buy & hold, multi-family, or something else?

When I began investing in cabins in the Smokies, I made rule that I would only buy cabins on creeks or rivers where you can catch your dinner. 

We went from buying light rehabs to buying major foundation and mold issues to make numbers work until even that did not work anymore.

BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.